Barcode Readers Market to Value US$ 10.1 Bn by 2030; Notes TMR Study

- Prospect of growing use of barcodes to monitor recycling efforts of individuals and incentives offered to attract demand

- Efficacy of use of barcode readers for patient information management, medication record, and inventory management during COVID-19 cements market growth

ALBANY, N.Y., Jan. 12, 2022 /PRNewswire/ -- The ongoing COVID-19 pandemic has amplified the use of the barcode technology and associated devices in healthcare institutions for use of various applications from patient information to medication record and testing patient samples. The prospect of development of mobile apps to scan barcodes of COVID-19 test samples using any smart device will fuel the growth of the barcode readers market, finds a TMR study.

The use of the barcode technology has gained considerable traction to track the inventory of medical devices over the past year. The use of the barcode technology that employs barcode readers helps in structuring data to manage the inventory of medical devices. Due to the efficacy of the barcode technology for inventory management of medical devices during the pandemic, it has received recommendation of the National Health Service in the U.K. for patient safety in the current situation.

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The role of barcode reader manufacturers to help medical device suppliers prepare product data to be in line with procurement contract standards set by government health organizations during the pandemic provides impetus to the barcode readers market.

Besides healthcare, manufacturing, and government sectors, the barcode technology is evolving to find new applications in recycling, shopping, and even rainforest logging. This cumulatively indicate bright prospects for the demand for barcode readers for the barcode readers market estimated to be cross US$ 10.1 Bn by 2030.

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Barcode Readers Market – Key Findings of Report

Integration of Augmented Reality (AR) to Create Next-gen Devices, Demand for 2D Devices to Continue to Soar

The development of hands-free barcode readers combined with digital eyewear is creating new frontiers in the barcode readers market. This product variant has received overwhelming response from retail and logistics sectors for efficient operations.

Nonetheless, 2D image-based barcode readers continue to witness substantial demand for sorting applications. Manufacturers in the barcode readers market are engaged in product innovation to overcome the shortcomings of predecessor products. The launch of AV500 imager from Datalogic Group for high-speed sorting applications is a case in point.

The demand for 2D barcode readers is soaring exponentially for ecommerce retail, parcel/postal sorting, and airport baggage handling applications. The burgeoning e-commerce sales during the pandemic has led to a huge demand for barcode scanners/readers for end-to-end handling of goods. 

The excessive use of the barcode technology to label high volume baggage at airports around the world stimulates growth of the barcode readers market. The barcode technology is used to provide a unique identification number to each and every piece of luggage to be transported from an airport on any given day. The number on the label attached to any piece of luggage is verified using barcode scanners to match the number and passenger details on computer systems. This stirs growth of the barcode readers market.

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Advantages of Real-time Visibility of Supply Chains Spurs Demand

The increasing need for real-time visibility for managing supply chain processes is attracting technology companies to extend the capabilities of the barcode technology. Large enterprises for data processing and analytical tools are pioneering for real-time visibility in supply chain processes. These companies are doing so by combining software and hardware solutions, along with added capabilities of new technologies such as automatic identification and data capture (AIDC).

Furthermore, businesses of data processing are leveraging the advantages of RFID technologies when combined with the barcode technology to provide traceability solutions. This has resulted to be exceptionally useful in the streamlining of asset, vendor, and dealer management processes.

Barcode Readers Market – Growth Drivers

• Extensive demand from several end-use industries such as healthcare and retail mainly for information verification drives the barcode readers market
• Availability of affordable and compact devices for small-size enterprises to upgrade to modern asset and inventory management system stimulates growth

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Barcode Readers Market – Key Players

Some of the well-entrenched players operating in the barcode readers market are Zebra Technologies, Honeywell International, Cognex Corporation, Alien Technology, Cipherlab Co. Ltd., Datalogic S.p.A., SATO Europe GmbH, and Advantech Co. Ltd., Bluebird Inc.

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